Cannabis credit union gets partial win in court ruling

A Colorado credit union aiming to serve cannabis businesses won a partial victory Thursday when a court ruled the Federal Reserve Bank of Kansas City cannot block access to a special account the firm needs to do business.

The decision is a symbolic triumph for Fourth Corner Credit Union but won’t allow the firm to serve the marijuana industry.

In a 2-1 decision, the 10th U.S. Circuit Court of Appeals in Denver ruled that Fourth Corner can serve supporters of MJ legalization – but not licensed cannabis or hemp businesses – as long as the Controlled Substances Act is intact.

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Cannabis credit union gets partial win in court ruling is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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